Instinet Downgrades Chico's, Inc. (CHS) to Neutral

Instinet (Nomura) downgraded Chico's, Inc. (NYSE: CHS) from Buy to Neutral and maintained a price target of $13, citing valuation.

Analyst Simeon Siegel commented, "Recognizing the myriad macro and headline factors at play, we downgrade shares of CHS and FRAN given valuation. CHS/FRAN have run 30%/61% over the past six months (vs. SP 500 +7%), and, although both are working through their turnarounds, at ~16x and 15x our FY17 estimates for CHS and FRAN, respectively, we are moving to the sidelines."

For an analyst ratings summary and ratings history on Chico's, Inc. click here. For more ratings news on Chico's, Inc. click here.

Shares of Chico's, Inc. closed at $14.41 yesterday.

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